Letter of CreditCity
of
Meridian
Public
Works
Dept.
Memo
i�
To: Jaycee Holman
From: Karie Glenn
CC: File, Karie, P & Z Staff
Date: 4/11 /08
Re: Southeast Corner Marketplace #1 (aka Gateway Marketplace #1)
Clint Dolsby has signed the plat for the above project and am forwarding it to you for your
signature. Based on our research of the project files, all conditions imposed by the Public
Works Department and City Council have been met.
I am also forwarding original letter of credit No. SLCSSEA03116 (US Bank — dated 3/18/08)
for $198,492.80. This represents surety for items, and in amounts, listed on the attached
spreadsheet.
Please call Donna Wilson w/ The Land Group at 939-4041 ext 110 when the plat is ready to
be picked up. Please call me if you have any questions.
Thank you.
"Final Plat was approved by City Council on: September 10, 2007
From the desk of...
Karie A Glenn
Dept Specialist Supervisor
Meridian Public Works Department
660 E. W atertower Lane, Suite 200
Meridian, Idaho 83642
(208)898-5500
Fax: (208) 898-9551
glennk(aameridiancity.org
9 Page 1
®bank®
Five Star Service Guaranteed
U.S. BANK NATIONAL ASSOCIATION
INTERNATIONAL DEPARTMENT
1420 FIFTH AVENUE, 9TH FLOOR
SEATTLE, WA 98101 U.S.A.
PHONE: 206-344-2398
FAX :206-344-5365
IRREVOCABLE STANDBY LETTER OF CREDIT
MARCH 18, 2008
BENEFICIARY:
CITY OF MERIDIAN
660 EAST WATERTOWER, SUITE 200
MERIDIAN, ID 83642
ATTN: KARIE GLENN
LETTER OF CREDIT NUMBER: SLCSSEA03116
APPLICANT:
JAMES A. KISSLER LLC
1591 SENDERO
BOISE, ID. 83712
------------------------------------
EXPIRY DATE: MARCH 11, 2009
AT: OUR COUNTERS PRESENTLY LOCATED AT 101 S. CAPITOL BLVD, 8TH FLOOR, SUITE
814, BOISE, ID 83702 ON OR BEFORE 5:00 P.M BOISE TIME.
-------------------------------
AMOUNT U.S. $198,492.80
NOT EXCEEDING ONE HUNDRED NINETY EIGHT THOUSAND FOUR HUNDRED NINETY TWO AND
80/100 U.S. DOLLARS
---------------------------------------------------- ---------------------------------------------------
WE HEREBY ISSUE THIS IRREVOCABLE STANDBY LETTER OF CREDIT AVAILABLE BY YOUR
DRAFT(S) DRAWN AT SIGHT ON U.S. BANK NATIONAL ASSOCIATION AND ACCOMPANIED BY THE
FOLLOWING DOCUMENTS:
1. A DATED STATEMENT PURPORTEDLY SIGNED BY A REPRESENTATIVE OF THE IDAHO
TRANSPORTATION DEPARTMENT STATING THAT THE AMOUNT OFTHE DRAFT DRAWN
REPRESENTS FUNDS DUE THE CITY OF MERIDIAN DUE TO THE FAILURE OF JAMES A.
KISSLEER LLC TO COMPLETE THE SEWER, WATER, PRESSURIZED IRRIGATION, STREET
LIGHTS, LANDSCAPING AND FENCING IN SEC MARKETPLACE.
2. THE ORIGINAL OF THIS LETTER OF CREDIT, INCLUDING ANY AMENDMENTS, MUST BE
SUBMITTED TO THE BANK FOR OUR ENDORSEMENT OF ANY PAYMENTS EFFECTED BY US
AND/OR FOR CANCELLATION.
ADDITIONAL CONDITIONS:
1. PARTIAL DRAWINGS ALLOWED.
2. ALL BANKING CHARGES OTHER THAN THOSE OF THE ISSUING BANK ARE FOR ACCOUNT OF
THE BENEFICIARY.
DRAFTS DRAWN UNDER THIS CREDIT MUST BEAR THE CLAUSE: "DRAWN UNDER U.S. BANK
NATIONAL ASSOCIATION IRREVOCABLE STANDBY LETTER OF CREDIT NO. SLCSSEA03116".
THIS CREDIT IS SUBJECT TO "THE UNIFORM CUSTOMS AND PRACTICE FOR DOCUMENTARY
CREDITS" (2007 REVISION) INTERNATIONAL CHAMBER OF COMMERCE PUBLICATION NO. 600".
THIS PAGE 1 FORMS AN INTEGRAL PART OF LETTER OF CREDIT NO. SLCSSEA03116
embank®
Five Star Service Guaranteed r*
WE HEREBY ENGAGE WITH YOU THAT DRAFT(S) DRAWN AND/OR DOCUMENTS PRESENTED
UNDER AND IN COMPLIANCE WITH THE TERMS OF THIS IRREVOCABLE STANDBY LETTER OF
CREDIT WILL BE DULY HONORED UPON PRESENTATION TO US ON OR BEFORE THE EXPIRATION
DATE OF THIS LETTER OF CREDIT.
U.S. BANK NATIONAL ASSOCIATION
INTE ATIONAL BANKING DIVISION
UTHO ED SIGNATURE
Janet Joireman
Asst. Vice President
THIS PAGE 2 FORMS AN INTEGRAL PART OF LETTER OF CREDIT NO. SLCSSEA03116
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